Gold, the protector of wealth, is delivered to us by God and has withstood the test of time. Paper currency is man-made and represents a lack of virtue and promotes a life of excess.
WHAT THE BIBLE SAYS ABOUT GOLD, SILVER & MONEY
Gold and silver belong to God alone for God created it and bestowed it upon us here on Earth. Gold and silver are sacred stores of value that always protect wealth, transcend time and are ever-lasting. Gold is mentioned 417 times in the Bible and silver is mentioned 320 times.
Midas Gold Group believes the Bible gives clues on how man-made currencies (paper money) represents instability, a lack of virtue and encourages living wastefully in excess. Midas Gold Group urges everyone, particularly those dependent on a fixed income — like a savings account or mutual fund — to take critical protective measures now.
There are biblical principles that encourage the use of gold and silver as true protectors of wealth. That the use of gold and silver by individuals as well as nations will lead us on a path where we can arrive at a wealth of another kind, the wealth of nations and of brotherhood born out of the crucible of discipline, restraint, and integrity.
“The farther backward you can look, the farther forward you are likely to see.”
There are parallels to be drawn between the ancient Roman Empire and the contemporary United States (and every other country on the planet for that matter). By looking at what became of the Roman Empire, we can predict with certainty the financial calamity that awaits us.
As in many lessons put forth by the Bible, the same parables about gold and silver and the use of money during biblical times are just as applicable then as they are to us today.
The history of mankind, from the earliest formation of an organized society till today, carries with it never-ending struggles of freedom over tyranny, morality over immorality, fair over unfairness, equality, justice, and good versus evil.
All of these are true conflicts that have beleaguered us since the dawn of civilization, and they can all be encapsulated into one battle. The battle is between currency — manmade paper, and gold and silver — the two precious metals found in our Earth’s crust, sent to us by our Lord to use as money. Man-made currency always leads nations down the path to increased war, debauchery, greed, and ultimate collapse. Gold and silver enforces discipline, nurtures self-constraint, self-reliance, balance and leads to confidence, a restrained government, and a more stable foreign policy.
Let’s remember the distinction between currency and money for it is important to keep in mind.
Currency has no intrinsic value of its own and has to keep moving from one person to another, to be used in trade. Throughout biblical times, many things have been used as currency including livestock, wheat, spices, beads, and paper. You may think of the US dollar in your pocket as money. It isn’t.
The cash in your pocket and in your bank account has no intrinsic value whatsoever. As long as people believe in the government, they may have faith in the government’s currency. Our cash is simply a medium of exchange used to purchase goods or services.
Over a hundred years ago, the US issued a paper currency known as a Silver Certificate. It was a note, a receipt, a claim check if you will, that the bank gave you to represent gold or silver that was held in its vaults. The bearer of the certificate could exchange it for the equivalent amount in silver at any time. The gold and silver certificate went away with the 1914 creation of the Federal Reserve Bank. Since the Federal Reserve opened for business, the US dollar has been nothing but a piece of paper used as currency. Every dollar printed by the Fed is owed back to the bank with interest.
Near the end of World War II, the Bretton Woods agreement stipulated all countries would peg their currencies to the US dollar and the US dollar would be redeemable in gold but only to foreign central banks, at a rate of $35 per ounce. This meant that, from World War II onward, all foreign central banks had to hold dollars instead of, or in addition to, whatever gold has left in their reserves. This gave the United States an incredible advantage over the rest of the world. It was an advantage we promptly abused. In some sense, the US weaponized its currency. Now, the rest of the world has begun to turn their backs on the US dollar standard.
Nixon took the US off the gold standard entirely in 1971 and our currency became completely untethered. For the first time, in our country history, our economy was based on a fiat currency. This is something our Founding Fathers would never have approved. Our nation’s financial system, as well as those of other countries, has been built on a huge Ponzi scheme ever since. Meanwhile, gold set its own value on the open market and within the following year closed at $42 an ounce. Today’s dollar compared to the 1971 Nixon-era dollar has lost 80 percent of its value. The spot price of Gold is, as of this writing, undervalued at $1,900.
Man-made currency is created at will. Do they want more money? They print it and put it into circulation. This way they can make more loans, wage more war, or artificially control the Stock Market or Real Estate prices. Every civilization that has risen to power and gone down this path, and they’ve lost every time. The end result is always the same: financial collapse and the re-evaluation of gold and silver. Gold and silver always come out on top. Another civilization comes along, starts with a solid monetary policy based on gold and silver, begins debasing its currency and the whole process starts all over again.
This is not just a question of sound monetary policy; it’s a question of morality and living according to God’s plan. Basing your economy on a finite store of value, like gold and silver, teaches respect for the value we bring through the work we perform. The work in exchange for money, not fiat currency, allows us to make responsible use of our resources and teaches us never to take more than we can give.
Paper fiat currencies never start that way. Governments are built on the strength of gold and silver. Then a paper claim check is distributed on the real money (gold and silver). Once the paper currency is established, it is rapidly expanded through deficit spending on social programs and waging wars. Governments ultimately are forced to suspend redemption rights. Citizens are left with currency paper not tied to anything of real value. Fiat currency is designed to lose value for the citizen while enriching the banks and government.
History has shown that abandoning gold and silver has always been a bad idea. Man-made fiat currency seduces us into compromising our morality, character, honesty, and integrity, all for immediate gains and gratification.
The United States has a budget deficit; a savings deficit; a trade deficit; and a leadership deficit. Our elected politicians choose to print money rather than earn it through productivity (GNP). In order to manipulate Stock and Real Estate, the Federal Reserve lowers interest rates to hike up the price and print more money to meet the demand. We can even keep rates low by printing more money to buy back our own debt. It’s a house of cards. The emperor has no clothes and all of us are saying he’s dressed to the nines. There will come a day of reckoning, just as there had been for Athens, Rome, and every other civilization that debased their own currency and collapsed under their own greed.
The Bible says God created the world and the elements within it. Gold is depicted as an asset of value.
“The silver is mine, and the gold is mine, saith the Lord of hosts.”
When this day of reckoning happens, there will be a deflationary avalanche around the world, which will leave no confidence in a currency of any kind. The countries of the world will be forced to adopt a different monetary system, one that has a store of intrinsic value. The countries will go back to gold and silver because gold and silver always maintain their purchasing power independent of anything man does.
The first reference to gold in the Bible is during the creation of our world in the second chapter of Genesis.
“And a river went out of Eden to water the garden; and from thence it was parted, and became into four heads. The name of the first is Pishon: that is it which compasseth the whole land of Havilah, where there is gold; And the gold of that land is good.”
The age-old battle between man-made currency and gold begs the question, why do we keep making the same mistakes over and over again. It’s as if humankind is asked to make the perennial choice at different epochs in human evolution.
Perhaps the hope is that someday we’ll learn not to be so greedy. We’ll take to heart the parable of the Good Samaritan who bestows unexpected kind acts upon a stranger in need. We will begin to consider how our actions affect others in current and future generations.
Our Founding Fathers created a great vision of America. Many of their principles are the same fundamental lessons taught to us by biblical history. They demonstrate the importance of free markets, free people, and sound money. Our own history and that of ancient civilizations proves that this is the road to material and lasting spiritual prosperity.
The Bible challenges us to ask ourselves daily, is this God’s way, is this what Jesus would do, or the Good Samaritan. What are these stories from the Bible trying to say to us from across the expanse of time?
We at Midas Gold Group believe what Biblical history teaches us about gold and silver, and we take it to heart. Let us be your trusted resource for buying gold and silver now and for generations to come.